Outbound travellers are saving on dining, spending a lot more on shopping and luxury products during their trips, with Japan and China the top destinations during the Songkran holiday, according to YouTrip, a multi-currency digital wallet.
Juthasree Kuvinichkul, founding partner of YouTrip Thailand, said many Thai travellers ate at fast-food chains and convenience stores, or cooked their own meals to save their budget for shopping.
During Songkran, YouTrip recorded a 150% increase year-on-year in spending by Thai travellers, both for their domestic and overseas trips.
Roughly 90% of users took overseas trips, with Japan becoming the most-visited destination, while the remaining 10% took domestic trips.
Ms Juthasree said the lion's share or about 54% of overall spending was dedicated to shopping.
In Japan, Thai travellers preferred luxury branded items, such as Louis Vuitton, Prada and Gucci, as well as goods from leading Japanese retail stores Uniqlo and GU.
She said only 14% of spending went on dining, while Thai travellers mostly opted for familiar outlets such as 7-Eleven and McDonald's.
Some of them also chose to buy ingredients at grocery stores or supermarkets to prepare their own meals, as this category accounted for 5% of spending.
Within the country, Thai users also spent a lot on online shopping platforms, such as Shopee and Lazada.
Ms Juthasree said Japan will continue as the top outbound destination for Thais, thanks to its weak currency, array of exclusive products and traditional hospitality.
China also emerged as the fastest growing market during the Songkran holiday, emerging as the second most popular destination, mainly driven by the permanent visa-free scheme starting in March.
In April, YouTrip reported a 466% or nearly five-fold increase in transaction volume in China, compared to November 2023.
Popular cities among Thai travellers were Shanghai, Beijing, Shenzhen and Chengdu.
It also observed that Thais spent the most on famous Chinese brands, such as Luckin Coffee and toy store Pop Mart.
Ms Juthasree said since China travel is now dominated by cashless payment, YouTrip directly benefits from the trend, as its wallet connects with China's Alipay and WeChat Pay.
The number of transactions in China accounted for 26% during the holiday, exceeding Japan which made up 25%, as people preferred more cashless payment on the mainland.
However, in terms of spending value, Japan remained the top market.
Besides the yuan and yen, Thais also bought other currencies, which were mostly used for tuition fee payments.